Is it worth it? What are your thoughts?

newRNstudent02 · Apr 2, 2011

60 K for a bsn from a good school is not that much. If this is something you really want to do then go for it. Just plan ahead. Budget, budget, budget.

That Guy, BSN, RN, EMT-B · Apr 2, 2011

I have no debt. Ask me how much happier I am not having to pay a ton of money to student loans every month. It allows me to put more down on my house and car and get rid of THAT debt a little faster. That being said, if it is worth it to you, none of us can talk you out of it

caliotter3 · Apr 2, 2011

It is worth it to know that you have been accepted without undue delays and aggravation as well as not being too far off base to pay for a BSN. I would go with this, unless you can come up with an acceptance to another school that has a better financial aid package for you. Best wishes in your program.

chicagoing, ADN, RN · Apr 2, 2011

$60K in school loans is a lot of money...however, if you are entering UConn straight from high school, I think you should give it a shot. I know it's most likely cheaper to complete an associate's degree program and then transition to a RN-BSN program (while having your employer foot the bill)...but those 4 years after high school spent on campus at a college or university (away from home) will probably be some of the best years of your life.

Even if you are a bit older and not the traditional freshman age, I'd still go with what your heart tells you. $60K is a lot of money, but definitely not unmanageable.

UConngirl21 · Apr 3, 2011

Thank you all, I truly feel a lot better :)

anon695 · Apr 3, 2011

If you're a CT resident then this is probably the best, cheapest option for a 4-year BSN for you. If you're not a CT resident then go to your own state's university system, because going in-state is always cheaper than out-of-state in a different state.

However, see if there's any way you can find college money so that you can take out as little in loans as possible - maybe your parents could kick in some, and then you pay them back interest-free when you graduate?

tokyoROSE, BSN, RN · Apr 3, 2011

If you have exhausted all other options, then yes, stick with UConn. Be sure to apply to as many scholarships as you can to ease the burden -- 60k is a lot of money.

2011NursingStudent · Apr 3, 2011

If you borrow $60k at today's rates, after school your payment will be over $690 a month and you will pay over $22,000 in interest. If you are borrowing at a different interest rate, you can use this calculator to figure out what your monthly payments will be: http://www.finaid.org/calculators/scripts/loanpayments.cgi . In my personal opinion, a $690/mo loan payment out of school is not reasonable.

Loan Balance: $60,000.00 Adjusted Loan Balance: $60,000.00 Loan Interest Rate: 6.80% Loan Fees: 0.00% Loan Term: 10 years Minimum Payment: $50.00

Monthly Loan Payment: $690.48 Number of Payments: 120

Cumulative Payments: $82,857.94 Total Interest Paid: $22,857.94

Hobbes02 · Apr 3, 2011

If you're in state consider SCSU.. they program has a lot of pre-reqs (11 total whereas UCONN has none as far as I can tell..?) but you would still graduate with a BSN and it's quite a bit cheaper. (UCONN vs SCSU).. Both schools are CCNE accredited as well.

dudette10, MSN, RN · Apr 3, 2011

If you are paying for school on your own, and earning a bachelor's degree from the get-go is a goal that you will not compromise, $100,000 as an estimated cost of attendance over four years is, unfortunately, about average.

From the college board website:

Public four-year colleges charge, on average, $7,605 per year in tuition and fees for in-state students.

I looked at UConn's website, and if you are in-state, it's only $1K/yr more than the average nationwide.

What is going to take a chunk of your loans is the room/board expense, which has always been the biggest single expense for attending a public university. If there is any way that you can reduce that, do it. Also, consider taking a part-time job while you are in school so that you can avoid using your loans for some of your expenses.

afox · Apr 3, 2011

Although that much in student loans is not ideal, its doable. Especially since your mom said you can live with her after graduation to help pay back some of your loans.

Lets say you start out at $21 an hour x 40 hours a week, you'd make about 43K a year. You'd be in the 25% tax bracket, so you'd bring home about 1200 a paycheck (every 2 weeks). This would easily allow you to pay double on your student loans every month, from just one pay check, leaving you with another 1200 to live off of. 1200 would be PLENTY to live off of, if you are living with your mom, so you'd possibly be able to devote another couple hundred dollars to the loans, paying them off quicker, and eliminating SO MUCH interest. That'd leave money for a car payment, food, and spending money so that you wont feel "in debt" to your education

Also, government loans are at a much better interest rate than private loans, so try to avoid those and your payments could end up being less than 650.

And as many others have said, try for scholarships! Contact your school's financial aid office, because you have better odds of getting something that is local, rather than something nationwide. (although, I say try for ANY scholarship you qualify for. check out Fastweb.com)

And like mentioned by others, get a part time job! Even if its just a few hours a week in the bookstore, or if you waitress twice a week, that will eliminate using your loans on living expenses.

Good Luck :) Hope this helps ease your mind a bit !!